DRO ended :-D advice please!

onemoremakes3

Hi wise ones!
My DRO ended yesterday, the relief I'm feeling today is huge!!! I'd be really grateful if I could get a bit of help, I've checked my credit reports today for the first time in months and noticed a few thing that seem wrong/strange!
HSBC is still showing missed payments rather than a default, should I chase this with the debt camel letter or give it a little more time?
I've had a search today from Intrum, who I had to google-they are a debt collector, should I be concerned?
A couple of other questions....
I know I won't hear anything from the Insolvency service but will my creditors write to me to acknowledge the end of the DRO?
Is it better to do the loqbox thing sooner rather than later or will it not matter if I wait a year or so? I'm don't want any credit any time soon but I'd rather have my file in as good a shape as it can be than how it looks now

Thanks so much for getting this far!!!

MalMonroe

Hi! Congratulations on the end of the DRO.

However, it does stay on your credit file for another five years and things will certainly not be sorted immediately. I had a DRO about 8 years ago and after a year it ended but of course it still stays on the Insolvency Register for another three months and you're not really free and clear until the whole 6 years are over. 

There's some helpful info here from StepChange https://www.stepchange.org/debt-info/what-happens-after-a-debt-relief-order.aspx#:~:text=The Individual Insolvency Register can,register for about 15 months.

Nobody will write to you to acknowledge anything. And yes, I would wait a while before taking any action whatsoever. Creditors will get around to some action, eventually. And if, as you say, you can hang on as long as possible before applying for credit, all the better. 

I found my DRO such a godsend but it was not easy either before, during or after. Obviously it's meant to be that way so you can try to learn not to fall into the same bad financial ways again. It worked for me, and I hope it will be the same for you. Don't try to rush things but the only way now (as I kept telling myself!) is up. Good luck! 

sourcrates

Next step is credit file clean up, see debt camel website for full details.
Wouldn't be keen on using any 3rd party to improve your credit rating, let time do that.

I liken ex insolvents to alcoholics, you should not be too eager to drink from that bottle again.

onemoremakes3

Thank you both, that’s really helpful.

If the Intrum people get in touch I’ve nothing to worry about have I? I can just send them a copy of the dro? I’d never heard of them until I saw they’d searched my credit file this morning, I presume they’ve bought a now wiped debt. 

sourcrates

onemoremakes3 said:

Thank you both, that’s really helpful.

If the Intrum people get in touch I’ve nothing to worry about have I? I can just send them a copy of the dro? I’d never heard of them until I saw they’d searched my credit file this morning, I presume they’ve bought a now wiped debt. 

You should not even have to ask that question, otherwise what’s the point of the DRO ?

You have 100% protection from all of your creditors or their agents, yes you simply send a copy of your DRO paperwork, along with a covering letter, job done.

They are the ones that should worry.

1977dave

My DRO ended just over a month ago, I emailed the IS to ask if I'd get confirmation. They said the don't normally send out confirmation that the DRO has ended as routine, but emailed me a letter confirming it had since I asked

So it's worth asking if you want something in writing to show it's ended

Well done on the end of your DRO, the hard bit is over and now you can just get on with life

Stephbryan58

I applied for and was granted a DRO effective 14th February 2020, however due to a mistake in my part it was revoked immediately and my crediitors advised due to an asset which was over the permitted limit. However the dro still shows on my credit file although it no longer shows on the insolvency register.. As it didnt go ahead should it have been removed from my credit file. My credit file is very poor as it shows the dro plus the debts that are now in default. Any advice would be appreciated.

1977dave

Even though the DRO was revoked, it will still show on your credit file until the 6 years is up. You wouldn't be able to apply for another for 6 years, so if you still can't pay your debts, then you may need to contact Stepchange or another charity to see what your options are.

fatbelly

If the application had been declined, it would not show.

As it was granted, then revoked, I think it does.

MalMonroe

Stephbryan58 said:

I applied for and was granted a DRO effective 14th February 2020, however due to a mistake in my part it was revoked immediately and my crediitors advised due to an asset which was over the permitted limit. However the dro still shows on my credit file although it no longer shows on the insolvency register.. As it didnt go ahead should it have been removed from my credit file. My credit file is very poor as it shows the dro plus the debts that are now in default. Any advice would be appreciated.

Hi, did you process your DRO with help from one of the free debt help agencies? If so, you should go back to them and tell them what happened and ask them what's the next step.

If not, I would really advise you to do so. StepChange helped me so much and I always recommend them. Please do contact them, it's a free call and they're helpful, understanding and non-judgemental. link here -  https://www.stepchange.org/

I know what it's like to feel like there's no light at the end of the tunnel but there is, and if you can take the first step to getting sorted, you'll feel so much better. Obviously I'm speaking from my own experience but I just found such comfort from talking over my problems with the StepChange adviser who was so calm and knowledgeable. It was my first step to untangling my financial mess because I found I couldn't really think straight and was just going round in circles. Just give them a try because you have nothing to lose. If you already have tried one of the free agencies, try them again. 

Stephbryan58

Thank you. The DRO went through National Debtline, I will give them a call.